Effective April 3, Raiffeisenbank modifies the conditions for currency transfers among individual clients.

From April 3 onward, customers of Raiffeisenbank without Premium or Premium 5 service packages, apart from Friedrich Wilhelm Raiffeisen clients, will no longer be able to transfer dollars to other banks. Furthermore, the minimum transfer amount for dollars and euros to other banks will be raised to 20,000 rubles. However, customers will still be able to transfer other currencies with no changes made to minimum transfer amounts: 10,000 for pounds sterling and Swiss francs, 70,000 for yuan and 1 million for yen. The bank explained that these restrictions are necessary to stay within the limits imposed by correspondent banks on foreign currency payments. According to a press release on Telegram, Raiffeisen Bank is pursuing options for its Russian subsidiary following an order from the European Central Bank (ECB) to end its business in Russia.

Starting April 3, transfers in dollars to other banks will only be available to Raiffeisenbank clients with Premium or Premium 5 service packages connected until February 28, as well as Friedrich Wilhelm Raiffeisen clients. The minimum amount of transfers to other banks in dollars and euros will also be increased to 20,000 rubles.

The bank clarified that transfers in other currencies will remain available to all customers. The minimum amount of transfers also does not change – 10 thousand for pounds sterling and Swiss francs, 70 thousand for yuan and 1 million for yen. The commission for all currency transfers is fixed – 300 dollars / euros or the equivalent for other currencies.

“We are forced to introduce these restrictions, since we must not exceed the limits set by correspondent banks on the number of payments in foreign currencies,” the bank said in a press release published in Telegram.

Archyde.com reported last week that the European Central Bank (ECB) had ordered Austrian banking group Raiffeisen Bank to close its business in Russia. According to the sources of the agency, the ECB insists on the formation of an action plan to terminate the activities of the bank in the country. Raiffeisen Bank said it is exploring options for the future of its Russian subsidiary.

Details – in the publication “Kommersant” “Raiffeisenbank pointed to the way out.”

Laura Keffer



In summary, Raiffeisenbank clients with Premium or Premium 5 service packages connected until February 28, as well as Friedrich Wilhelm Raiffeisen clients, will be the only ones able to make transfers in dollars to other banks starting April 3. The minimum amount for such transfers will also increase to 20,000 rubles. However, transfers in other currencies will remain available to all customers with no changes to the minimum transfer amount. Raiffeisen Bank’s decision to introduce these restrictions is due to correspondent banks’ limits on the number of foreign currency payments. In addition, recent reports suggest that Raiffeisen Bank may be forced to close its business in Russia. Despite this uncertainty, the bank says it is exploring options for its future in the country. For more information, check out Kommersant’s publication “Raiffeisenbank pointed to the way out.”

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